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Shopping on Temu can feel like playing an arcade game. Instead of using a joystick-controlled claw to grab a toy, visitors to the online marketplace maneuver their computer mouses or cellphone ...
People shopping for clothes in Huejotzingo, Mexico, in 2023. Amid the COVID-19 pandemic in 2020, it reportedly made $10 billion in revenue, making it the seventh consecutive year of more than 100% sales growth for the company. [11] As of October 2020, Shein was the world's largest online-only fashion firm. [11]
Then there’s Shein, the online fashion retailer that is ringing up more than $30 billion in annual sales, which is more than its 80-year-old rival H&M, and which could soon surpass the annual ...
Shein has been able to trump fast-fashion incumbents Inditex's Zara and H&M, with revenues reaching $24 billion in the first three quarters of this year, according to reports.
Temu (/ ˈ t iː m uː / ⓘ TEE-moo) is an online marketplace operated by the Chinese e-commerce company PDD Holdings, which is owned by Colin Huang. [9] [8] [10] It offers heavily discounted consumer goods [11] mostly shipped to consumers directly from China.
Zara's sales in 2020 made less than half of Shein's sales which is a threat due to Zara's continued popularity. [34] Shein doubled its sales during 2020, with 35% of those sales accounting for Western clients. The reason for Shein's success, even during a pandemic, is due to their incredibly inexpensive clothing.
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